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Banco de México anticipates that the recovery will continue but with uncertainty

Mexico City, Sep 15 (EFE) .- The Bank of Mexico (Banxico) anticipated this Wednesday that the economic recovery of the country would “continue”, although with uncertainty and uneven development between the north and the south.

“It is anticipated that the economic recovery will continue, although uncertainty prevails about the course of the pandemic and the magnitude of the momentum that external and internal factors could maintain,” the central bank indicated in the “Report on regional economies, April-June 2021 “.

In addition to more than 3.5 million cases and almost 270,000 deaths, the fourth highest figure in the world, the COVID-19 crisis left Mexico with a historic contraction of 8.2% of GDP in 2020.

For this 2021, the Bank of Mexico foresees a 6.2% recovery, according to its latest forecast of August 31.

Despite highlighting the advance of vaccination, the autonomous body warned of the risk posed by the new variants of covid-19 in the country, which just this Tuesday reported almost 1,050 deaths from the disease, the third highest daily figure of the third wave .

“The emergence of more contagious variants of the SARS-CoV-2 virus represents a significant risk for the recovery of regional economies, especially those, such as the center, more linked to the domestic market,” said the report.

Banxico highlighted the quarterly growth of 1.47% of GDP from April to June 2021, in addition to the annual increase of 19.6%, according to original data.

Even so, he warned that “the center and the south would continue to exhibit a greater gap with respect to the activity levels registered before the pandemic in 1Q-2020 (first quarter 2020) than the north and central north regions.”

The report pointed out that the center of the country presents the largest gap compared to the previous year.

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